Pension fraud convict sent to prison

A Federal High Court yesterday remanded a former Director of Police Pension Office, John Yakubu Yusufu, in prison custody for an alleged N250million fraud.

Yusufu will remain in custody till March 1, 2013 when Justice Adamu Bello will begin the hearing of the case.

The Economic and Financial Crimes Commission (EFCC) arraigned Yusufu for the alleged fraud and failure to disclose all his assets.

Yusufu, who was convicted on Monday for pension fraud, is also facing trial for not declaring his interest in a company known as SY-A Global Services Limited.

Yusufu is alleged to have used the company to lodge N250million with a new generation bank.

A statement by the Head of Media and Publicity of the EFCC, Mr. Wilson Uwujaren, said the suspect is a sole signatory to the company’s account, which was being used to launder pension cash.

The charges, signed by the acting Director, Legal and Prosecution Department of the EFCC, Chile Okoroma, reads: “That you, John Yakubu Yusufu on or about 14th February, 2012 at Abuja in the Abuja Judicial Division knowingly failed to make full disclosure of your assets and liability in the Declaration of Assets Form filled by you by not declaring your interest in a company known as SY-A Global Services Limited, a Nigerian company incorporated by you and solely owned by yourself and members of your immediate family and you thereby committed an offence punishable under Section 27(3) of the Economic and Financial Crimes Commission (Establishment, etc) Act CAP E1 2004.

“That you, John Yakubu Yusufu on or about 14th February, 2012 at Abuja in the Abuja Judicial Division knowingly failed to make full disclosure of your assets and liability in the Declaration of Assets Form filled by you by not declaring your interest in the N250million you lodged in a fixed deposit account with the Zenith Bank in the name of SY-A Global Services Limited, a company in which you are the sole signatory to its account and you thereby committed an offence punishable under Section 27(3) of the Economic and Financial Crimes Commission (Establishment, etc) Act CAP E1 2004.

“That you, John Yakubu Yusufu on or about 14th February, 2012 at Abuja in the Abuja Judicial Division knowingly failed to make full disclosure of your assets and liability in the Declaration of Assets Form filled by you by not declaring your interest in the sum of N10million you lodged in a fixed deposit account with the First Bank of Nigeria in the name of SY-A Global Services Limited, a company in which you are the sole signatory to its account and you thereby committed an offence punishable under Section 27(3) of the Economic and Financial Crimes Commission (Establishment, etc) Act CAP E1 2004.

“That you, John Yakubu Yusufu on or about 14th February, 2012 at Abuja in the Abuja Judicial Division knowingly failed to make full disclosure of your assets and liability in the Declaration of Assets Form filled by you by not declaring your interest in the sum of N29million which was fixed on your instruction by one Danjuma Mele in his company account in the name of Jidag Technical Services Limited with Diamond Bank and for your benefit and you thereby committed an offence punishable under Section 27(3) of the Economic and Financial Crimes Commission (Establishment, etc) Act CAP E1 2004.

The EFCC statement said: “The accused pleaded not guilty to the charge. His counsel, Rotimi Jacobs asked the court to remand the accused in prison custody and fix a date for trial.

“Counsel to the defendant, Gabriel Tsenyen, prayed the court to grant him a short adjournment to enable him file an application for bail. He also prayed the court to remand him in the EFCC custody.

“However, Justice Adamu Bello ordered that the accused be remanded in prison custody and adjourned the case to March 1.

Yusufu was among six top officials of the Police Pension Office arraigned by the EFCC on March 29, 2012, on a 16-count criminal charge of conspiracy and criminal breach of trust.

“The other accused persons are Esai Dangabar, Atiku Abubakar Kigo, Ahmed Inuwa Wada, Mrs. Veronica Ulonma Onyegbula and Sani Habila, Zira. Kigo was the director of the Police Pension Office before he was made permanent secretary. They allegedly stole over N32.8billion from the police pension office.

On Monday, Justice Mohammed Talba convicted and sentenced Yusufu to six years’ imprisonment with the option of a fine, having pleaded guilty to three counts of an amended 20-count charge.”

Yusuf paid the N750,000 fine (N250,000 for each of the three charges for which he pleaded guilty), and then walked away a free man.

If the maximum penalty for such a crime is 2 years with an option of a fine the EFCC should stop wasting its time because it is not going to be worth the stress. Our greedy law makers should change the law and people found culpable of such acts should be meted to stiffer punishment

In a country where those who are stealing money are giving a pat on the back-the menace of corruption must linger. Where is Nigeria heading to? Why would somebody stole billions of naira with impunity? Why should our judiciary continue to celebrate criminals in this country instead of punishing them? May God help us!

Kazeem

Justices Talba & Bello on JOHN YUSUFU. Yes, both are making history. However, let’s see how it goes. But all these point to the fact that Nigeria legal system is highly biased . Someone should tell me why crime would not be on the rise in this country. INFACT, THE GODS ARE TERRIBLY ANGRY. A man confessed to have stolen N72bn meant for aged Nigerians & yet Justice Talbi on leniency ground, gave him a fine of N75,000! Even, if JOHN YUSUFU returns home just like that, do you think the children of those retirees who were sent to their early graves would allow him to enjoy the loot?
Even with this now, Nigerians should not be surprised when they hear about Lawan/Otedola case.
Nigeria is a big joke!!!!
I’m however sure that, we shall emancipate ourselves from the wickedness of these heartless individuals in not too distant future.

Coco-Bassey,Esu

is it now that efcc has to see other charges against yusufu?if not for d public outcry and protect by d public this man would have smile home with billions of nigerian money and upon lives he sent to early grave,this calls for d public not to b silent in many national issues until those at d leadership position do d right thing and b accountable

If EFCC and judiciary have started convicting people of public office holders like john yakubu, the issue of corruption would have being reduced by now; Failure of the judiciary to convict and sentanced them to jail that made us to be where we are now but if we on our own part could say no to corruption nigeria will be a better country.

Joekehi Igoh

The court guys should be careful else he steals the Judge’s wrist watch

IBUWARISO EMMANUEL

THIS IS UNBELIEVABLE,SOMEONE STEALS 250M AND GET A N750,000 BAIL.THIS IS SO SAD,SOMETIMES I WONDER WHERE NIGERIA IS HEADING TO.WHAT CAN I SAY? POLITICS WILL ALWAYS BE POLITICS IN NIGERIA.THIS FUNNY STUNT IS SO OBVIOUS, I MEAN COME ON!!!!!!!!! Ibuwariso Emmanuel Caleb University

Joseph Antia

This fresh arraignment is fake and just to deceive Nigerians whom the ruling class think are a bunch of fools.
There is no existing law to prosecute this John Yakubu Thief.
Reason: our God given President refused to declare his assets, even when his then boss, Yar’Dua declared his and nothing happened to him. Till date, our President has not declared his asset according to law so that law is dead. Period!

Adeola Daramola

Our problem is not corruption but impunity. Bode George was given a rousing welcome after serving a jail term for fraud. Lucky igbinedion was made to return just 500m of his loot and was discharged. Ayo fayose of Ekiti is still walking free after bleeding the state dry, so John Yusuf’s case should not surprise anybody. This is what is called nigerian wonder. In fact, instead of fighting corruption, we are even rewarding it. Why won’t I steal if I know I will be rewarded and celebrated after being caught? This is not a country, in fact this is not even a geographical expression. Nigeria is a definition of failure

Brisibe Enemotimi

Discretion does not mean aiding thieves and criminal parading themselves as leaders to get away with their loots. What was the Judge thinking of when he read out that ridiculous sentence on a national thief if He had not compromised. The National Judicial Council should as a matter of urgency set a panel of inquiry to investigate The Presiding Judge. It is absolutely clear that The Judge is Corrupt and as should not be allowed to seat on such an exalted position.

ukanna ezeafulukwe

hahahahahahahahahaha nigeria sorry

Anans

Imagine one man having more than 18 houses alone, where there are alot of people out there looking for where to put their heads. millions of nigerians dont even have one house to themselves. its not govt but greedy people. what are u doing with all the wealth and houses, knwing that one day u will die and leave those things behind. vanity upon vanity

Blessed Nigeria

He can start by cleaning the Police Colleges.

dr osimiri

Its not the ist time is happening.Bode George got got 100days in jail for a similar crime and spent it all in the private ward of a very nice hospital and when he was due for release,a party was thrown for him closing down some street roads..Its so bitter.Only revolution can get Nigeria out of this mess.Ghana did it and they are enjoying it now.

Until we match to National assembly and force them to amend criminal code to make capital punishment the consequences of any corrupt practise either by the offender or any judicial officers that work against the legal rules; corruption willnotstop in Nigeria

I. Emmanuel

This will serve as a deter ant to others whom may want to use the same means to defraud poor pensioners. This is very annoying . Imagine, one man will hold old people that have served this nation for years, to a point depriving them of their rights. I keep saying this, after Police pension fraud, EFCC should take a walk to Military Pension and see for themselves what is happening there. I guess, everybody will be relieved of his or her appointment there. I beg EFCC to as a matter of urgent, seek for documents from Military pension and they will have a story to tell Nigerians. They have eaten my late father’s pension money worth millions of naira. God will only judge them because I don’t have anybody to help me out. I have reported them to the complain commission but nothing seem to be working out for about a year or so. It is a same calling this man John, Yusuf. The names he is bearing did not reflect those people’s behavior. His name should be changed to Judas Iscariot or Lucifar.

I. Emmanuel

This will serve as a deter ant to others who may want to use the same means to defraud poor pensioners. This is very annoying . Imagine, one man will hold old people that have served this nation for years, to a point depriving them of their rights. I keep saying this, after Police pension fraud, EFCC should take a walk to Military Pension and see for themselves what is happening there. I guess, everybody will be relieved of his or her appointment there. I beg EFCC to as a matter of urgent, seek for documents from Military pension and they will have a story to tell Nigerians. They have eaten my late father’s pension money worth millions of naira. God will only judge them because I don’t have anybody to help me out. I have reported them to the complain commission but nothing seem to be working out for about a year or so. It is a shame calling this man John, Yusuf. The names he is bearing did not reflect those people’s behavior. His name should be changed to Judas Iscariot or Lucifar.

kelvin

SHAME SHAME SHAME TO THE NIGERIA GOVERNMENT I JUST PITY THET PEOPLE WAY SAY JO DEY TRY DEAD LEADERS

CORRUPTION,bane of a nation. people steal and are been revered by they people.its the common man on the street that is the biggest problem. until the common man wakes up from his slumber, the so call leaders we have in public offices have proven beyond all reasonable doubts that they are not capable of leading us without stealing the sweat of they masses.The time is NOW.we as a people can decide to pull down the fence that separate us with our thieving leaders.ALL of our so called leaders have proven that non of them come from a humble background,neither do they have decency or moral standard.The unfortunate thing ,they are so shameless.their wives and children drive in exotic cars on our streets without a single iota of conscience.we are really unfortunate in this country not to have gotten a person with vision and moral standard to lead us, instead rogues and people without the fear of GOD.

AGENDER

HAHAHA…………! The beginning of this investigation is not really the main issue but how will it end………! We know what is happening bitween OTEDOLA, and Oil subsidy pannel, Tambuwal and so on ………..How are we sure that the same will not likely be the case in this issue……..May God save Nigeri…..We are in trouble…..

Ben

“A NATION OF SHEEP SHALL BE RULED BY WOLVES”

Ebony

Atleast it wld v been made a fine of N100m each 4 3offenses so dat at end d whole money is gotten bck 4rm including his own N50m.D judges jst tuk d 1dat will b enuf 4dem dats all i know.No case was judged er as long as am concernd

Joy

CEDAR RAPIDS, Iowa — Russell Wasendorf Sr. on Thursday was sentenced to the maximum 50 years in jail after admitting to orchestrating a fraud at the futures brokerage he founded and misleading regulators for almost 20 years.

Wasendorf pleaded guilty last September to the fraud at Peregrine Financial Group Inc. that federal prosecutors said cost his investors around $215 million and masked a business that was never profitable.

PFGBest
Peregrine’s Russell Wasendorf Sr.
He was also ordered to pay $215 million in restitution.

Federal prosecutors had called for him to receive the maximum 50-year sentence on charges of embezzlement, mail fraud and lying to government regulators.

Wasendorf said at the hearing that “I fully deserve” whatever sentence was imposed, and said he was “very sorry” for the damage to investors, staff and the futures industry.

See full story at WSJ.com ”
God help us in this country. Above is an example of what happened in decent society.